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IN THIS ISSUE
Newsletter Sponsors
A Note from the Editor
Today's Recruiting News Headlines
Recruiting
Metrics
Featured Recruiting Jobs
Special Trials and Discounts For Members
Polls and Trends
Weekly
Article:
Is Internet
Recruiting Working?
Recruiting Bookmarks
Upcoming Conferences
Site Of The Week - HotResumes.com
Final Note - On The Lighter Side
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Today's Recruiting News Headlines
View HR/employment
news
headlines or our Recruiting
Newswire.
Please send us with your
press releases, news items, personnel changes, etc. Click
here for submission instructions.
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Featured Recruiting
Jobs
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Special Trials And Discounts For Members
Below is a list of trials and discounts that companies
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________________________
Polls and Trends
Trend Watch is sponsored
and provided by iLogos,
a division of Recruitsoft.
Click
here for a complete archive.
________________________
Weekly Article
Is
Internet Recruiting Working?
By Allan Schweyer
According to a 2003 study published by DBM only about
6% of Americans found their jobs online last year (about
12% in Canada). The fact is that personal networks and
referrals still account for more than half of all job
placements in the U.S., a trend that has accelerated in
a weak economy in which everyone seems to know someone
who is unemployed. Nevertheless, job board activity has
risen dramatically since firms like TMP started it all
in about 1994.
This trend is perhaps best evidenced by the fact that
job boards are fast gaining in the market share of jobs
advertised, while newspaper classifieds are losing
market share. According to Forrester Research,
Monster.com (the industry’s largest player) more than
doubled its income from job postings in 2001 while
newspapers reported a 17% decline. In 2000, employment
newspaper classified advertising in the U.S. was worth
$8.7 billion, the Newspaper Association of America’s
preliminary statistic for 2002 is a stunning $4.3
billion. This loss of more than 50% in two years cannot
be attributed exclusively to a slowing economy – the
NAA’s preliminary results for Real Estate and Automotive
classified advertising (the only two other distinct
categories it tracks), for example show growth of 4.5%
and 5.5% in 2002 respectively.
The most reasonable assumption is that the slow
economy has cut into newspaper employment advertising,
but that job boards and other online job advertisement
vehicles have taken up much of the slack. Industry
watchers Gerry Crispin and Mark Mehler of CareerXRoads
predict that by this year, Monster alone will own 10-20%
of the entire employment advertising spend in the U.S.
If that is true, the other 2-3 top job boards (i.e. Hot
jobs and Career Builder) must account for another 10-20%
between them.
Add to this the thousand or more viable niche sites.
From well-known boards like diversity.com to obscure
ones like operatingroomnurses.com, niche players account
for millions of postings and candidate profiles/resumes.
Most of them are fee based and therefore eat up another
chunk of the total recruitment advertising spend in the
U.S.
Even larger than the mainstream and niche job boards
are corporate career sites. Corporate Career Sites have
become by far the largest aggregate sources of job
postings (many more than all the job boards and
newspapers combined by many estimates). Recruitsoft, for
example, is a Talent Management System vendor with just
125 large customers worldwide. It already claims that
its servers contain more job postings; more applicant
resumes and conduct more employment transactions (i.e.
requisitions posted, resumes reviewed, etc.) than all of
Monster.com.
A good deal of recent research has shown that more
than half of all Americans have access to the Internet
either from work, school or home. Other research has
demonstrated that job searching is consistently in the
top three online activities overall and is the number
one activity during work hours. iLogos Research claims
that almost every Global 2000 corporation operates a
corporate career site. My own research for HR.com found
that more than 85% of companies with more than 500
employees in North America have rudimentary of better
career sites. Granted there are many duplicate job
postings, but given the fast and massive growth in
public job boards and organization-specific career
sites; and the indisputable fact that together they
carry the vast majority of job advertisements, why
aren’t more people finding work using the Internet?
The question is important because organizations need
recruitment technologies to reduce costs, manage their
workforces, and get them through the next talent
shortage. Job seekers, however, must be getting
frustrated. Employers complain that they get buried in
resumes when they post on sites like Monster. Are they
reacting by ignoring the online responses and finding
their hires through informal referral networks? If so,
it is unfortunate because this will lead to some job
seekers abandoning the Internet in their search
altogether. Moreover, the informal approach is rarely
transparent and probably fails to find the best
candidates consistently.
In any case, volume of resumes is no longer a
satisfactory excuse not to recruit online. Recruitment
technologies are increasingly effective in screening,
sorting and communicating with candidates automatically.
Monster, for instance offers a backend applicant
management solution that is included in the price of job
postings. Referral networks are important but they
should be planned and operated formally and they should
connect to the overall corporate recruitment effort
through the career site and backend talent management
systems.
So where are the jobs now? More job seekers find
their new positions through friends, family and
colleagues than any other source by a wide margin. The
problem is, job seekers have always been told to tap
their networks when looking for work and so most who are
still looking have probably already done so. The promise
of the Internet is that it can greatly reduce
traditional friction in the labor market caused by the
limitations of personal networks, newspaper classifieds
and physical job boards. By giving more job seekers
access to more (and better described) job openings
online, more efficient and accurate matching should, in
theory, occur. Obviously this promise hasn’t been
fulfilled despite the wide availability of the Internet
and the proliferation of job boards and corporate career
sites.
In 2003, with demographically-driven talent shortages
looming in parts of Asia, Western Europe and North
America, mid-size and large organizations must become
proficient at using HR technologies for recruitment and
retention. In an era in which talent has surpassed all
other factors of competitiveness, it is hard to imagine
a complex organization surviving the next decade without
efficient processes for workforce planning, employee
development, deployment, recruitment and retention.
Organizations appear to have adopted the use of job
boards and corporate career sites. An excellent next
step would be to follow up by actually hiring from among
those who apply online.
About the Author
Allan Schweyer has been
involved in Internet recruiting since 1994 when he
pioneered e-recruitment solutions for Human Resources
Development Canada. From 1995 to 1999, Allan directed
the award-winning National Graduate Register, Campus
WorkLink and SkillNet.ca programs with Industry Canada,
which introduced the concepts of applicant tracking and
advanced screening to job boards and “career networks”
to job seekers.
In 1999, Allan formed the On-line Recruiters’
Association of Canada. In 2000 and 2001, he worked with
Cahners Business Information in Boston to build
information portals for technical professionals and
attended graduate school at Harvard University.
Allan currently consults with large organizations on
HR strategies and specializes in e-recruitment projects.
He is a senior researcher and analyst with HR.com and
the guest editor of the HR.com staffing vertical.
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Recruiting Bookmarks
Recruiting seminars and
conference listings.
________________________
Upcoming Seminars &
Conferences
Click here for schedules for upcoming conferences and
seminars.
View
all upcoming conferences
->>
________________________
Site
Of The Week - HotResumes.com
HotResumes.com
- Announcing Version 3.1 with some great new features.
All for only $199 a year.
New Features
- Bookmark resumes and saved searches.
- Resume management.
- More powerful searching tools.
Click here to test drive the demo search ->>
________________________
Final Note - On The
Lighter Side
Happy Recruiting!
_________________________
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